Crypto scam claims 12 victims, over RM5mil losses in Johor

JOHOR BARU: Police have received 12 reports from people claiming they lost a total of RM5.07mil to an online cryptocurrency investment scam.

Johor police chief Comm M. Kumar said the reports, received from Jan 3 to 26, were from individuals aged 46 to 71.

"The victims claimed that they came across advertisements for an investment scheme called Accerx on social media, offering them high returns in a short period.

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"They then clicked on the link provided, and were added to a WhatsApp group where they told how much profit they were about to make," he said in a statement on Sunday (Jan 28).

Comm Kumar said the victims were also told to download an application and register themselves on it to keep track of their investments.

Through the app, the victims also made money transfers under the impression that they were investing in cryptocurrency.

"According to one victim, his investment account supposedly showed high profits but when he wanted to cash out his earnings, he was given various excuses (and asked) to make another payment up front.

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"That was when the victims realised they had been scammed. The amount they lost ranges from RM177,000 to RM1.78mil," he said, adding that the reports are being investigated under Section 420 of the Penal Code for cheating.

He urged the public not to fall for investment schemes offered through social media especially if they sound too good to be true.

Those told to make online money transfers are advised to check the bank account number on the police Semak Mule app or https://semakmule.rmp.gov.my/ and to contact the National Scam Response Centre at 997 if they suspect they have fallen victim to any scams.